Management involves planning, organizing, staffing, directing, coordinating, and controlling resources to achieve organizational goals. It is defined as the process of designing and maintaining an environment in which individuals work together in groups to efficiently accomplish organizational objectives. Key features of management include that it is a continuous process, involves guiding human and physical resources, and maintains the discipline and morale of employees. The main objectives of management are to optimize the use of resources, ensure a regular supply of goods, promote research and development, and maintain financial soundness and stability in the organization.

1. MANAGEMENT
Introduction, Definitions,
Features & Objectives
Simaran Shaheen
Asst. Prof.
Ghanshyam Binani Academy Of Management
Sciences.

2. Concept of Management....
 The term ‘management’ has been used in
different senses. Sometimes it refers to the
process of planning, organizing, staffing,
directing, coordinating and controlling, at other
times it is used to describe it as a function of
managing people. It is also referred to as a
body of knowledge, a practice and discipline.

3. Definitions of Management.
 Terry and Franklin- “Management is
a distinct process consisting of
activities planning, organising,
actuating and controlling, performed
to determine and accomplish stated
objectives with the use of human
beings and other resources.”
 Koontz and Weihrich- “Management
is the process of designing and

4. Features of Management.
Management is an activity
concerned with guiding
human and physical
resources such that
organizational goals can
be achieved. Nature of

5.  Management is Continuous:
Management is an ongoing process. It
involves continuous handling of problems
and issues. It is concerned with identifying
the problem and taking appropriate steps
to solve it. E.g. the target of a company is
maximum production. For achieving this
target various policies have to be framed
but this is not the end. Marketing and
Advertising is also to be done. For this
policies have to be again framed. Hence
this is an ongoing process.

6. Objectives of Management.
 Optimum utilisation of resources: The
most important objectives of the
management are to use various resources
of the enterprise in a most economic way.
The proper use of men, materials,
machines, and money will help a business
to earn sufficient profits to satisfy various
interests i.e. proprietor, customers,
employees and others. All these interests
will be served well only when physical

7.  Ensuring regular supply of goods:
Another objective of management is
to ensure the regular supply of goods
to the people. It checks the artificial
scarcity of goods in the market.
Hence, it keeps the prices of goods
within permissible limits.
 Discipline and morale:The
management maintains the discipline
and boosts the morale of the

8.  Promotion of research and
development: Management
undertakes the research and
development to take lead over its
competitors and meet the
uncertainties of the future. Thus, it
provides the benefits of latest
research and technology to the
society.